Syngenta: to sell assets to comply with EU commitments.

(CercleFinance.com) - Syngenta has entered into an agreement with Australia's Nufarm to sell a portfolio of crop protection products for a transaction value of 490 million dollars, so as to comply with the commitments given to the European Commission when it was acquired by ChemChina.

The divested portfolio includes off-patent crop protection formulations in the herbicides, fungicides, insecticides and other categories in Europe.

No physical assets or employees will be transferred as part of the transaction, Syngenta said.

The transaction is expected to be closed in the first quarter of 2018.